HR 5521 117th Congress House Commerce

Rural Capital Access Act

Introduced: October 8, 2021 Introduced by: Joyce, David P. Republican · Ohio See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Oct 21, 2021

Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Oct 8, 2021

Referred to the Committee on Small Business, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Oct 8, 2021

Introduced in House

Plain-English summary Congressional Research Service

Rural Capital Access Act

This bill increases federally backed leverage, or investments, available to small businesses in rural areas through Small Business Administration (SBA) programs. Specifically, the bill (1) reduces restrictions on federally backed leverage for small business investment companies (SBICs) investing in small businesses located in rural areas, and (2) allows the SBA to extend as leverage to rural business investment companies certain unexpended amounts intended for SBICs.

The bill also establishes an interagency working group comprised of the SBA, the Department of Agriculture, and industry stakeholders to develop administrative and legislative recommendations to improve program coordination and capital access in rural areas.

What's happening now October 21, 2021

Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Committees of jurisdiction 3